Is the market crashing?? Well, let’s say it like this.. After 2 years of an UN- BLEEPING- PRECEDENTED real estate market, the market is normalizing, not crashing. What does the shift in the market mean? Will we continue to see spikes and swift changes in the coming months? Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty, I defer to what the major player experts are saying. and with that information, I help you make the best decision about your real estate needs.
With the slowing down in the number of homes currently selling, we are seeing the market starting to look more like it did before 2020. Looking at this graph from NAR, [Slide 4] projections are showing home sales return. Now, the last two years have been ***unprecedented*** in terms of the sale of homes. Going back down to numbers like 2019 is not a bad thing, we had a good market at that time! But there is still more work to be done to get to that point. To quote, Danielle Hale, Chief Economist with Realtor.com, “Active inventory continued to grow, rising 21% above one year ago. In other words, we’re starting to add more options, but the market needs even more – before home shoppers have a selection that’s roughly equivalent to the pre housing market.” Also, interest rate hikes have made it harder for buyers to qualify, but it’s not much different than what buyers were experiencing over the past year where they have to offer significantly over asking (and over-value) to even be in the running to get their offer accepted.
There are plenty of options of out there (and no you don’t need 20% for a downpayment) and I can help you analyze things you may not be thinking about when making a decision about buying. Connect with me and my team to learn more about the market and if it’s the right time for your next real estate move.
Whether it’s YOU, or SOMEONE YOU KNOW, I’m here to help with your home buying and selling needs and take amazing care of you. I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty and I’m always here to help. Reach out anytime even if you’ve just got questions.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?